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Nasdaq has invested $100 million U.S. in Payward, the parent company of cryptocurrency exchange Kraken.
This investment is part of a new funding round that valued Payward at $21 billion U.S., exceeding the $20 billion U.S. valuation the company had been seeking.
The deal includes a provision for Kraken to distribute Nasdaq's tokenized stocks on its own platform.
Tokenized stocks are digital representations of traditional shares that allow investors to buy and own equity in a digital format.
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